Granted each state is different in it's language and interpretation, wholesaling I believe IS legal if done correctly.Before all this, this is my opinion and not actual facts!

They all seem a touch long and IMO take too long to interpret what they mean.

Racist/Racism is probably the most misused/misunderstood word in the English language.My interpretation of the Ultimate Guide has always be a SUGGESTION of risk vs. reward as an investor.  

Lots of ways to have that number interpreted.

I don’t recommend relying on posters here in BP and their interpretation of the rules and regulations at your HOA.If your HOA decides you are in violation of the rules and charges you fines, they can stack up quickly.  

If this is an experienced sponsor with a long track record there may be some language in the contract that is open for interpretation and he/she is taking advantage of it, If it's a new sponsor they may just be greedy.

The word "clean" is open to interpretation; your future leases should define what you consider clean (e.g., floors mopped, no pet hair, no residual food stuck on the oven, etc.)

A structure, up to a maximum encroachment of 30' in length.How exactly do I interpret this - typical setbacks are 5' on the sides and 15' in the back.

There are lots of interpretations of what that means and if you are not yet clear on how you're defining value, then spend some time meeting and talking with other investors.  

From there, you fill out the form, have a call with the sponsor, and then they can start sending you deals after 30 days or so (again, part of the general interpretation of pre-existing relationships that are needed for 506(b) offerings).Honestly, the hardest part about finding 506(b) deals is many groups have moved to 506(c), and those that remain 506(b) tend to be the groups that have networks large enough to not need to market anyways, but there are some out there.